EconomyFinancialAeroméxico concludes its restructuring under Chapter 11

Aeroméxico concludes its restructuring under Chapter 11

Aeroméxico reported that it has concluded its financial restructuring process, with which it officially exits the procedure under Chapter 11 of the United States Bankruptcy Code, after almost a year and nine months of negotiations with suppliers, workers and institutions, and even changes in the structure of the company.

In a statement sent to the Mexican Stock Exchange (BMV), the airline reported that the capital value of the restructured company is approximately 2,564 million dollars, while the new shares listed in circulation amount to 136,423,959, with a theoretical value of around 389.0187 pesos per share, equivalent to 18.79 dollars.

“Today is an incredibly exciting day for Aeroméxico, and we are ready to fly fast to new heights as we emerge from our Chapter 11 proceedings,” said Andrés Conesa, CEO of Aeroméxico, quoted in the statement. "We are ready to start a new chapter in the history of our Company, supported by a strong financial base, a solid capital structure and investors who have full confidence in our future."

The airline also reported that it plans to invest approximately 5,000 million dollars in the next five years for its fleet plans and improvements in the customer experience.

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